Delton Cables (DLTNCBL) Q2 FY27 Profit Doubles as Order Book Fuels Record Quarter
The cable maker's Q2 profit jumped 91% year-on-year, driven by a 48% revenue surge from a robust order book and segment growth.
Delton Cables posted a 91% jump in net profit for Q2 FY27, with revenue climbing 48% to ₹358 crore. The growth was powered by a strong order book and improved operational leverage, even as interest costs rose.
For a cable maker, growth hinges on the order book and the ability to convert it efficiently. Delton Cables delivered on both fronts in the September quarter, posting its highest-ever quarterly revenue and a near-doubling of profit.
The numbers show a business hitting stride. Revenue reached ₹358 crore, up 48% from a year ago and 25% from the June quarter. Profit surged 91% year-on-year to ₹12 crore. The net profit margin expanded to 3.4%, up 80 basis points from last year.
Revenue & profit
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin
| Metric | CurrentQ2 FY27 | PreviousQ1 FY27 | Same quarter LYQ2 FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | 358.0YoY +48% | 286.4 | 241.3 |
| Profit (₹ Cr) | 12.0YoY +90% | 7.6 | 6.3 |
| Net Profit Margin | 3.4%YoY +31% | 2.7% | 2.6% |
The EPC Engine Driving Growth
The surge was led by the Engineering, Procurement, and Construction (EPC) segment. According to a report by scanx.trade, the EPC segment's revenue grew 68% year-on-year for the half-year, while telecom revenue doubled. This segment now dominates the order book, which stood at ₹471.5 crore as of September 30.
Management's asset-light approach to capacity expansion, favoring leased facilities over heavy capex, appears to be paying off. This allowed operating leverage to kick in, with total expenses growing slower than revenue. The result was a significant expansion in pre-tax margin, as noted in the same report.
A Strong Foundation for the Road Ahead
Operational improvements underpinned the profit jump. Managing Director Vivek Gupta highlighted better collections and inventory management. This translated into a positive operating cash flow of ₹11.9 crore for the half-year, a sharp reversal from an outflow a year ago.
The company's financial health also received a boost. Its external credit rating was upgraded to BBB+/Stable, and bank limits were enhanced to ₹310 crore, as reported by scanx.trade. This provides fuel for the next phase of growth.
Key Points
- Net profit nearly doubled year-on-year to ₹12 crore on a 48% revenue surge to ₹358 crore.
- Growth was led by the EPC segment, supported by a strong order book of ₹471.5 crore.
- Improved working capital management turned operating cash flow positive for the half-year.
- A credit rating upgrade and enhanced bank limits provide financial flexibility for future growth.
Hexa Perspective
The quarter demonstrates Delton Cables successfully converting a strong order pipeline into revenue and profit. The margin expansion, despite rising interest costs, points to effective operational execution.
The sustainability of this run depends on two factors: maintaining the pace of order conversion and managing input cost volatility in a metal-intensive business. With industry capacity rising, as noted in a Crisil Ratings sector report, the company's focus on specialized EPC and telecom segments may offer a defensible niche against broader price competition.
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